EURUSD on Tuesday rose 0.41% to 1.09705. Pair in consolidation. What we know

Upcoming key events (London Time)

Thu 01:30 PM USD Initial Unemployment Insurance Claims

What happened lately

Building Permits (1-mth) in March below forecast and dropped to 1.413M compared to previous figure 1.55, revised from 1.524M in February
ZEW Survey – Current Situation in April below forecast and improved to -32.5 points compared to previous figure -46.5 points in March

EURUSD Chart by TradingView

What can we expect from EURUSD today?

EURUSD on Tuesday rose 0.41% to 1.09705. Price is above 9-Day EMA while Stochastic is falling.

Updated daily direction for EURUSD looks mixed as the pair is likely to consolidate above 1.09333 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.09830 or trades above daily pivot 1.09582. While to the downside, the daily low of 1.09210 and 1.09333 (S1) as immediate support levels. EURUSD need to break on either side to indicate a short-term bias. A break above 1.09830 may suggest continuation after recent positive movement.

For the week to-date, take note that EURUSD is mixed as compared to prior week.

Key levels to watch out: